Trump’s Irish resort reports loss — again

United States President Donald Trump has lost money for a third year in a row at his golf club in Ireland.

Financial statements filed with the Irish Government show the resort lost about US$2.6 million ($3.67m) in 2016, the latest year available.

His two Scottish golf resorts recently reported losses had doubled in 2016. But there are signs of improvement at the Irish property.

Revenue rose in 2016, and losses are less, down 14 per cent from 2015.

The Trump International Golf Links and Hotel in Doonbeg was hurt by a shutdown for 2015 and part of 2016 while it was being refurbished. The west-coast resort’s directors say they expect it to turn an operating profit for 2017. Those results aren’t expected until late this year.

The latest losses were first reported by the Irish Times.

The newspaper quoted the resort’s general manager saying that revenue jumped an extra 10 per cent in 2017, and that the resort is enjoying “record green-fee business and a steady flow of new members”.

Including the latest results, the Doonbeg resort has lost about $12.4m in the three years through 2016. Trump bought the property in 2014.

He has been losing money at his two Scottish resorts for three years, too. In 2016, he posted $33.7m in losses. Trump has angered locals at a resort overlooking the North Sea in Aberdeen with what they claim have been bullying tactics over the years in an effort to expand his property.

The Irish course overlooking the Atlantic Ocean is considered one of the Europe’s best, but has attracted some controversy, too.

Trump last month got approval from a local government to build a wall to protect his course from rising seas. The wall has angered some local residents and environmentalists who say the structure will damage dunes in the area and a public beach.

Some of Trump’s golf courses in the US appear to be facing a backlash from players since he took office. His public courses in Los Angeles and one in the New York have reportedly faced revenue falls in recent months.

How his other courses have fared — as well as his many hotels, office towers and residential buildings — is unclear because the business is privately held and releases little financial information. — AP